INVESCO BUYS 23% SHARE OF GENERATOR

Patron Capital has sold a 23% stake in Generator Hostels to Invesco Real Estate for €60 million in capital, which will be used to expand the chain worldwide. Commenting on the deal, Patron’s Josh Wyatt said, “This transaction, via a global institutional capital partner, is a major proof of concept for hostels as an asset class”. Patron plans to increase Generator’s portfolio to 20 properties by 2018 and in particular will target European cities and at least three cities in the USA.